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| *Ostroff, Fair and Company>>>Other Taxes |
Explain the diffrences between incident of tax and tax effect? |
It is for the completion of my project Tax effect - This refers to the fact that when you move, you can get a tax reduction either through not counting certain reimbursements as income or deducting certain moving expenses in excess of what the Government has reimbursed. Consult your base legal office for details. incident of tax Failure to Pay Tax; Grounds for Attachment (LAC 61:I.4365) Under the authority of R.S. 47:312, R.S. 47:337.2, R.S. 47:337.32, and R.S. 47:1511 and in accordance with the provisions of the Administrative Procedure Act, R.S. 49:950 et seq., the Department of Revenue, Policy Services Division, has amended LAC 61:I.4365 to provide for uniform state and local sales tax definitions in accordance with the provisions of Act 73 of the 2003 Regular Legislative Session. Act 73 enacted the Uniform Local Sales and Use Tax Code, R.S. 47:337.1 et seq., to promote uniformity in the administration of state and local sales and use taxes by compiling the local sales and use tax laws in the revised statutes. Revised Statute 47:337.2(C)(2), which provides for the development of uniform state and local sales and use tax regulations, allowed local sales tax collectors until January 1, 2004, to file written requests with the Secretary of Revenue for amendments to any Department of Revenue regulation in effect on July 1, 2003, so that the regulation applies to both state and local sales and use taxes. Local collectors, through the Louisiana Association of Tax Administrators, filed a request with the Secretary of Revenue in December 2003 for amendments to several regulations. Requested amendments to the sales tax definitions are included in this Rule. Title 61 REVENUE AND TAXATION Part I. Taxes Collected and Administered by the Secretary of Revenue Chapter 43. Sales and Use Tax 搂4365. Failure to Pay Tax on Imported Tangible Personal Property; Grounds for Attachment A. The failure to pay any tax, interest, penalties or cost when due as provided in state and local sales or use tax laws and the regulations pertaining thereto automatically causes the tax, interest, penalties or costs to become immediately delinquent. Any tangible personal property, of which the sale at retail or the use, consumption, distribution and/or storage which gave rise to the incident of tax is subject to attachment irrespective of whether the delinquent taxpayer is in possession of the property or not, and irrespective of whether he is a resident of the state of Louisiana. The failure to pay the tax when due constitutes grounds for attachment as provided by R.S. 47:312 and R.S. 47:337.32. The procedure prescribed by law for attachment proceedings is to be followed except no bond is required of the taxing authority. Source(s): http://www.anz.com/edna/dictionary.asp?a... http://www.dod.mil/mapsite/glosst2.html... http://72.14.207.104/search?q=cache:fput... My wife told me the difference. Don't vote for this answer. Second answer added to bring question to a vote. |
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